I
know faculty are prepping for their classes (if they have not started teaching
already). I am a fan of Lean and the concept of #GetOutTheBuilding. All firms
need to check in with their customers to confirm they are solving their problems
and providing value. Faculty are no different. I reached out to
NACCE2103 ""Next Gen Entrepreneurs - Next Gen Community College"
panelists Jason Jannati, Co-Founder of greeNEWit and Sheena Lindahl, Co-Founder and President of Empactto get their
opinion of what student entrepreneurs need to learn. Listen to their ideas
in this podcast starting at 14:16.

Continue To Teach The
Basics…But Remember All Student Are Not The Same

Both
Jason and Sheena agree that there are basics that need to be taught to help businesses
launch and grow.

·Create
a sales and business development plan – Students need to know the pathway and
tools needed to acquire their customers. Make sure they map to the target market
and marketing plan. How are marketing plans and sales plans different?

·Develop
financial statements - In addition to the cash flow and profit & loss
statements and balance sheet, be sure the student know how to create bids for
jobs. How should they account for their time in all of those documents?

They
also cautioned to remember that students are in entrepreneurship programs for
different reasons - some already have a business idea, some want to work in a startup,
some want to develop a lifestyle business and some have a high grow tech idea.
Diversify the examples you give in class.

Teach by Giving
Students Experiences to Learn From

"Push
students to take action on the business plan,” said Sheena. Both Sheena and
Jason agree that students need to get out of the classroom and gather fact and
skills.

·Make
a real sale on a business idea. Have students get a target customer to commit
to buy when their product or service launches.

·Enlist
students to get internships in startups or small businesses. This will give
students a sense of what it takes to run a business –from energy level, to flexibility
to testing new ideas and innovating.

·Become
a magnet for mentors. Pair your students with mentors to get feedback on business
ideas, pitches and plans.

Did they hit it? Post a comment below.

Sheena Lindahl is Co-Founder
and President of Empact, an organization facilitating
entrepreneurship throughout the world through exposure, celebration and
connection. Through Empact's Extreme Entrepreneurship Tour, Sheena has overseen
500+ events connecting communities and colleges across the country with young
entrepreneur speakers and role models. To learn more about Empact's programs,
contact sheena@iempact.com.

Jason Jannati is Co-Founder of greeNEWit,
a company that helps society
build more sustainable communities through energy efficiency. Jason is an Empact Connect entrepreneur and can be
reached for speaking inquiries here.